This paper contains a statistical description of the whole U.S. forward rate curve (FRC), based on data from the period 1990-1996. We find that the average deviation of the FRC from the spot rate grows as the square- root of the maturity, with a proportionality constant which is comparable to...

We propose a structural credit risk model for consumer lending using option theory and the concept of the value of the consumer’s reputation. Using Brazilian empirical data and a credit bureau score as proxy for creditworthiness we compare a number of alternative models before suggesting one...

This paper aims at showing how the state may be an example in evaluation firms' quality. We develop this idea referring to a concrete experimental tool developed by the French Small Business Administration.

„h Contrary to common perceptions, most Australian businesses survive for a considerable time ¡V for example, around two¡Vthirds of businesses are still operating after five years and almost one¡Vhalf are still operating after ten years. „h Around 7.5 per cent of businesses exit each year...

Die Prognose, ob ein Unternehmen fortbestehen wird oder nicht, hat weitreichende Konsequenzen für Eigentümer, Gläubiger und Arbeitnehmer der Gesellschaft. In Abhängigkeit von dem Prognoseergebnis sind das Vermögen und die Schulden in der Bilanz und in einem etwaigen Überschuldungsstatus...

Eine positive Fortbestehensprognose eines Unternehmens beinhaltet eine mit überwiegender Wahrscheinlichkeit erwartete nachhaltige Zahlungsfähigkeit. In dem Beitrag „Die Fortbestehensprognose – Rechtliche Anforderungen und ihre betriebswirtschaftlichen Grundlagen“ der Verfasser in WPg...

In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model with an investment function very close to Kalecki’s original writings. The effects of interest rate variations on the short-run equilibrium values of capacity utilisation,...